EX-10.17
18
y12303a1exv10w17.txt
EX-10.17: AIRCRAFT LEASE AGREEMENT



 CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED
 SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
 TO A REQUEST FOR CONFIDENTIAL TREATMENT

 EXHIBIT 10.17

 EXECUTION COPY

 AIRCRAFT LEASE AGREEMENT

 Dated as of

 December 23, 2004

 between

 WELLS FARGO BANK NORTHWEST, N.A.,
 NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS
 TRUSTEE UNDER THE TRUST AGREEMENT

 as

 Lessor

 and

 COMPANIA PANAMENA DE AVIACION, S.A.

 as

 Lessee

 in respect of one

 Boeing B737-800 Aircraft

 Manufacturer's Serial Number 29670



 INDEX

CLAUSE PAGE

 TABLE OF CONTENTS




 PAGE
 ~~1. INTERPRETATION......................................................... 6

 1.1 DEFINITIONS....................................................... 6

 1.2 CONSTRUCTION:..................................................... 30

2. REPRESENTATIONS AND WARRANTIES......................................... 31

 2.1 LESSEE'S REPRESENTATIONS AND WARRANTIES:.......................... 31

 2.2 LESSEE'S FURTHER REPRESENTATIONS AND WARRANTIES:.................. 35

 2.3 REPETITION:....................................................... 36

 2.4 LESSOR'S REPRESENTATIONS AND WARRANTIES:.......................... 37

 2.5 REPETITION:....................................................... 38

3. CONDITIONS PRECEDENT................................................... 38

 3.1 CONDITIONS PRECEDENT:............................................. 38

 3.2 FURTHER CONDITIONS PRECEDENT:..................................... 41